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Chinese autonomous vehicle start-up WeRide announced Wednesday that it has received a strategic investment of $200 million from China's major bus maker Yutong Group, the largest investment in domestic autonomous driving sector made by a Chinese automaker.
By Global Times | 2020/12/23 14:16:29
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  • Luxshare Precision is operating normally despite US Section 337 probe

    The US ITC Section 337 investigation will not have a material impact on Luxshare Precision's production and business operations, according to a release by the Chinese company on Monday, in response to US Amphenol Group's investigation application initiated by US authorities on Friday in accordance with Section 337 of the US Tariff Act of 1930.

    By Global Times | 2020/12/22 10:49:22
  • Chinese firm buys Bayer unit to augment COVID-19 vaccine production

    WuXi Biologics, a global company with open-access biologics technology platforms, said on Monday that it will take over and operate the Drug Substance (DS) facility at Bayer's Wuppertal site for COVID-19 vaccines production.

    By Global Times | 2020/12/22 9:21:28
  • HarmonyOS gives China own ecosystem, has far-reaching importance to nation's software sector: Huawei's Wang Chenglu

    Huawei launched a new variety of the S-series Smart Screen and a vehicle-mounted smart screen carrying the updated Harmony operating system (OS) on Monday, further major steps toward building a complete ecosystem based on its own OS.

    By Zhang Yang | 2020/12/21 20:52:30
  • Chinese chipmaker SMIC-related shares surge, defying US' stepped-up crackdown

    China's A-shares related to leading chipmaker Semiconductor Manufacturing International Corp (SMIC) surged on Monday, defying the Trump administration' latest move of putting SMIC on its Entity List, which aims to contain China's development of indigenous advanced technologies.

    By GT staff reporters | 2020/12/21 20:23:39
  • Hong Kong food firm Green Monday opens faux meat store in Shanghai

    Hong Kong plant-based meat brand Green Monday opened its first mainland restaurant on Monday in Shanghai, the latest example of Hong Kong companies' efforts to tap business opportunities in post-coronavirus era on the Chinese mainland.

    By Global Times | 2020/12/21 18:59:58
  • China builds first mRNA vaccine production base in Yunnan Province

    China's first mRNA COVID-19 vaccine production plant will be built in Yuxi, southwestern China's Yunnan province, which is expected to produce 120 million doses of the vaccine per year when the plant is completed.

    By Global Times | 2020/12/21 17:08:40
  • China hopes Sweden provides a fair, open, transparent and non-discriminatory environment for Chinese companies operating in Sweden: ambassador

    We urge the Swedish side to immediately correct this wrong decision [of rolling China's Huawei and ZTE out of the 5G construction in Sweden], and hope the Swedish side will implement the principles of openness and the rule of law, instead of the slogan, which targets others, Chinese Ambassador to Sweden Gui Congyou said in a recent interview on Friday.

    By Global Times | 2020/12/21 10:13:15
  • Industrial upgrade in China's factory zone Dongguan eases labor shortages

    A push for industrial upgrading has led to an increase in automated production lines in Dongguan, one of the world's leading factory zones, in South China's Guangdong Province, helping to address persistent labor shortages.

    By GT staff reporters in Dongguan | 2020/12/20 22:21:27
  • US blacklists more Chinese companies, including SMIC

    The US Commerce Department announced Friday that it added more Chinese companies, including the country's leading chipmaker Semiconductor Manufacturing International Corp (SMIC), to its Entity List.

    By Global Times | 2020/12/19 11:19:03
  • Australia's coal import ratio is only 2%, nothing to do with China's temporary power shortages

    China is self-sufficient in coal, and the power supply gap in some cities is mainly due to a sudden demand, which has nothing to do with declining supplies from overseas countries such as Australia, industry insiders and analysts said on Friday.

    By Tu Lei | 2020/12/18 22:53:40
  • Huawei to build 200-mln-euro manufacturing plant in NE France

    Huawei has chosen the Business Park in the city of Brumath in France's northeast Grand-Est region as the venue for its first manufacturing plant in Europe, the global telecom leader and the local authorities of the French region announced in a joint statement released on Thursday

    By Xinhua | 2020/12/18 11:35:09
  • Alibaba Cloud's facial recognition algorithm a trial technology, not to identify ethnicity

    A facial recognition technology that included ethnicity as an algorithm attribute for tagging video images was developed by Alibaba Cloud in a testing environment, and Alibaba will not permit the technology to be used to identify specific ethnic groups, Alibaba Group said in a statement on Thursday.

    By Global Times | 2020/12/18 10:49:28
  • Chinese mobile phone brands take 60% of global market

    Despite the global COVID-19 pandemic, Chinese mobile phones are gaining in popularity in the global market. According to the international e-commerce platform Aliexpress, Chinese mobile phone brands now have a 60 percent share of the global market.

    By Tao Mingyang | 2020/12/18 5:54:41
  • It's Australia, not China that's violating free trade deal, analysts say, urging China to resort to international courts

    Economists laughed at Australia's attempts to crack down on China by taking legal action against the country under the China-Australia Free Trade Agreement (ChAFTA), saying that it is Australia instead of China that is violating the terms of the agreement, and that China should resort to international courts more often to safeguard its interests.

    By Xie Jun and Chi Jingyi | 2020/12/17 22:38:40
  • Surging heating demand, output shortfalls lead to tight power supplies in China

    Several provinces in China announced that electricity loads have increased rapidly and issued proposals to save electricity and start its orderly use.

    By GT staff reporters | 2020/12/17 21:23:40
  • Luckin Coffee reaches settlement with US regulator, to pay $180m in fines

    Luckin Coffee, a potential rival to Starbucks, stated on Thursday that it has reached a settlement with US securities regulators on alleged financial fraud by some of its former employees.

    By Global Times | 2020/12/17 21:03:40
  • Industry insiders urge fair reporting as iron ore prices soar

    Blatantly misleading overseas media reports about Australia's iron ore trade with China have destabilized the market and possibly contributed to soaring prices, said industry insiders, who spoke of the need to avoid market panic that will cause disruption for the supply chains on both sides.

    By GT staff reporters | 2020/12/17 20:58:39
  • European tech firms seek to share in US IPO bonanza

    Some of Europe's tech companies are preparing to speed up listing plans early next year to grab some of the billions of dollars of investor cash that has already fuelled a record-breaking run of tech IPOs in the US this year.

    By Reuters | 2020/12/17 19:33:39
  • Luckin Coffee reaches settlement deal with US regulator, to pay $180 million in fines

    Luckin Coffee, a potential rival to Starbucks, stated on Thursday that it has reached a settlement with US securities regulators on the alleged financial fraud by some of its former executives.

    By Global Times | 2020/12/17 9:48:06
  • Fear of job losses rise in Australian agribusiness amid souring ties: AustCham China survey

    As Australian exports to China fall amid fraught bilateral ties, Australian agribusinesses have a growing fear of job losses and the wine sector, being hit hardest, is the most concerned about anti-dumping investigations, an industry survey finds.

    By GT staff reporters | 2020/12/16 21:32:08
  • Data shows Australian barley exports to China were dumped; experts say Australia to lose WTO case

    Statistics showed that Australian barley exported to China has shown obvious dumping signs in recent years, which will lead to Canberra's loss in its appeal against Beijing at the World Trade Organization, experts said, after Australia announced plans to challenge China over tariffs on its barley.

    By GT staff reporters | 2020/12/16 21:16:50
  • SMIC shares sink after leadership shift, likely to hurt client confidence

    Shares in Chinese mainland-based chipmaking giant Semiconductor Manufacturing International Corp (SMIC) went through a turbulent day, first halting trading and then sinking on Wednesday, after what is seen as an abrupt senior management change.

    By Xie Jun | 2020/12/16 20:58:40
  • Huawei launches proprietary HarmonyOS for smartphones

    Huawei launches the HarmonyOS 2.0 Beta for its smartphones in Beijing on Wednesday, another step closer for phasing in an alternative for Google's Android operating system, which is also deemed a hedge against US government crackdown on the top Chinese technology company.

    By Global Times | 2020/12/16 14:58:49
  • BioNTech to supply 100 million doses of the COVID-19 vaccine for Chinese mainland in 2021: Fosun Pharma

    Chinese pharmaceutical company Fosun Pharma, partner of German vaccine producer BioNTech's vaccine BNT162b2 announced on Wednesday it signed supply order with BioNTech Manufacturing, and will supply no less than 100 million doses of COVID-19 vaccine product for Chinese mainland in 2021.

    By Global Times | 2020/12/16 11:46:19
  • SMIC halts stock trading after co-CEO reportedly resigns and former TSMC COO is appointed

    Mainland chipmaking giant Semiconductor Manufacturing International Corporation (SMIC) halted stock trading on the Hong Kong stock exchange on Wednesday morning after what is deemed as an abrupt senior management change.

    By Global Times | 2020/12/16 11:23:40
  • Huawei sponsors 16 Sri Lankan students for training in China

    Huawei has launched the fifth edition of its "Seeds for the Future" corporate social responsibility program in Sri Lanka, which will see local students receive training in China, a statement said here Tuesday.

    By Xinhua | 2020/12/16 10:46:09
  • JD Finance apologizes for a number of offensive short videos

    JD Finance apologized for a number of online short videos which have seriously challenged socie-tal values, resulting in a lot of online criticism, this follows competitor firms including Ant Financial and 360 Finance also releasing poor taste contents designed to drive traffic.

    By Global Times | 2020/12/16 10:06:11
  • Prompt, wise regulation needed to curb risks among online giants

    Ant Group, one of China's largest online payment platforms, reaffirmed on Monday that it fully agrees with the financial regulators' approach and it will launch comprehensive scrutiny of its business model. The company also pledged to take effective measures to curb debt risks.

    By Wen Sheng | 2020/12/15 23:42:14
  • Market regulator fines three tech companies for illicit acquisitions

    Three Chinese companies, Alibaba Investment Limited, Tencent-backed online literature platform China Literature, and express locker solution provider Shenzhen Hive Box Co. were fined 500,000 yuan ($76,465) apiece for breaching the country's anti-monopoly Law, said a statement by State Administration for Market Regulation on Monday.

    By Global Times | 2020/12/14 15:03:40
  • China's mystery box toymaker Pop Mart shares gained after diving amid doubts of future earnings

    Chinese mystery box maker Pop Mart saw its share price on Hong Kong stock market dive 7.75 percent on Monday morning with its market capitalization decreasing to HK$87.938 billion ($11.34 billion), following a jump of 100-percent during its IPO debut on Friday.

    By Global Times | 2020/12/14 13:39:24
  • Influential doer in poverty alleviation through healthcare

    China has accomplished its poverty alleviation target as scheduled against the backdrop of a gloomy global economy severely hammered by the COVID-19 pandemic. As a multinational pharmaceutical company deeply engaged in the China market for 35 years, Xian Janssen Pharmaceutical Ltd. (Xian Janssen) has participated in the extraordinary process with unremitting endeavor to promote public health.

    By Global Times | 2020/12/13 21:36:12
  • Chinese e-commerce platform Hema Fresh launches cross-border shopping

    E-commerce platform Hema Fresh, Alibaba's fresh-food chain, has announced a cross-border shopping project that helps Chinese consumers purchase imported goods quickly and easily.

    By Xinhua | 2020/12/12 8:01:12
  • Chinese FM accuses US of abusing 'national security' in new moves against Huawei

    Chinese Foreign Ministry spokesperson Hua Chunying on Friday accused the US of cracking down on certain Chinese companies by abusing “national security,” responding to the US Federal Communications Commission (FCC)'s latest moves against Huawei and China Telecom.

    By Global Times | 2020/12/11 17:56:26
  • Chinese 'mystery box' maker Pop Mart sees shares soar 100% on debut

    Chinese "mystery box" maker, Pop Mart, saw its share price pop more than 100 percent on its debut day Friday, after its stocks started floating in the Hong Kong stock market, raising $676 million in its initial public offering (IPO).

    By Global Times | 2020/12/11 17:11:27
  • US' renewed move against Huawei signals continuous tech 'decoupling' in Biden era

    The US' latest in a series of crackdowns on Chinese telecom companies Huawei, ZTE and China Telecom have little impact on these companies due to their tiny share of revenue in the US market but signal continuous tech 'decoupling' with China in the Biden era, experts said.

    By Global Times | 2020/12/11 15:38:40
  • US coercing other countries to join 'Clean Network' is dirty business: FM

    Officials from the Trump administration have lobbied all around the world, coercing or luring other countries to shun Chinese high-tech firm Huawei's 5G, and to join US' so-called “Clean Network” scheme, which is actually very dirty, said China's Foreign Ministry on Thursday.

    By Global Times | 2020/12/10 19:38:25
  • Rumor of Japanese companies line up to withdraw from China is not true: MOFCOM

    Spokesperson of China's Ministry of Commerce Gao Feng said on the regular press conference on Thursday that the rumor of a large number of Japanese companies is lining up to withdraw from the Chinese market is "totally unfounded."

    By Global Times | 2020/12/10 16:08:40
  • Huawei aims to forge complete microchip industry chain

    Chinese technology giant Huawei plans to phase in a complete microchip industry chain using own technology and investment, facing a US supply cut-off and a possible worst-case scenario if its chips run out, but the process will take some time, observers said.

    By GT staff reporters | 2020/12/9 21:09:12
  • Chinese investors claim $3.5b compensation from Ukraine over Motor Sich deal

    After experiencing what they said was continuous obstruction by Ukrainian authorities on a purchase proposal, Chinese investors in engine maker Motor Sich have sought international arbitration against Ukraine with a demand for compensation of $3.5 billion, under an intergovernmental agreement on mutual protection of investments.

    By Global Times | 2020/12/9 20:38:40
  • Ranks of Apple suppliers surge in mainland

    The number of Chinese suppliers for Apple surged from almost none 10 years ago to dozens in the present day, driven by the rapid development of China's mobile phone terminal market, and this trend can't be reversed even by a US crackdown, industry observers said.

    By Xie Jun | 2020/12/9 20:23:40
  • Great Wall Cigars (Vega Pyramid) Selected in the Top 10 Best Cigars of the Winter Edition of Cigar Journal

    On December 6, 2020, the Great Wall Cigar Factory reported that the Great Wall (Vega Pyramid) had been selected as one of the top 10 cigars in the winter edition of Cigar Journal with a blind rating of 92 points, which has been published in the Cigar Journal of December.

    By Global Times | 2020/12/9 20:16:03
  • Blue Moon raises $1.27 billion in Hong Kong's rush of mega IPOs

    Chinese detergent maker Blue Moon Group Holdings has become the latest in a record number of companies to raise at least $1 billion in a Hong Kong IPO in 2020 after pricing its shares at HK$13.16, according to three sources with direct knowledge of the matter.

    By Reuters | 2020/12/9 16:43:41
  • Brazilian VP says 5G could cost more without Huawei

    Consumers may have to pay more for the fifth-generation (5G) technology if Chinese telecom company Huawei is not a provider, said Brazilian Vice President Hamilton Mourao on Monday.

    By Xinhua | 2020/12/9 9:36:14
  • Trump administration loses more legal ground in targeting TikTok

    Following earlier injunctions issued by US federal judges involving President Trump's order outlawing the operation of Chinese-owned video-sharing app TikTok in the US, the Trump administration met another blockage issued by another US court.

    By GT staff reporters | 2020/12/8 17:58:43
  • Regulator indicates heightening scrutiny of giant fintech platforms

    China's banking and insurance regulator on Tuesday called attention to a new type of too-big-to-fail financial risk, as some technology majors like Ant Group that have extended their footprint into the financial sector stokes rising concerns over possible systemic risks.

    By Global Times | 2020/12/8 16:38:40
  • Finland's new telecoms law 'leaves room for Nokia in China'

    Finland on Monday approved a bill that could be used to exclude Huawei from its networks, while analysts said that the “flexible” law – without pointing to any specific vendor like its neighbor Sweden – may leave more room for negotiating more interests for its 5G network-maker Nokia in China.

    By GT staff reporters | 2020/12/8 12:43:58
  • China's development increases Bayer's confidence and determination to invest

    Bayer, an innovative company with core competencies in health care and agriculture, has not only stepped up its investment in the Chinese market, but also deepened its integration into China's economic and societal development.

    By Agencies | 2020/12/7 14:34:22
  • TikTok highest grossing non-gaming mobile app worldwide in November

    TikTok and its Chinese sister-app Douyin, both owned by Chinese tech firm ByteDance, ranked as the highest global non-gaming mobile app in November, generating revenue of $123 million, which is 3.7 times higher than at the same time last year, according to a report by research firm SensorTower.

    By Global Times | 2020/12/7 11:36:18
  • Ball to be in Biden's court, TikTok talks likely to continue: analysts

    Following two earlier extensions, the White House again offered more time for Chinese video-sharing platform TikTok to steer toward a deal instead of being forced to sell its assets in the US.

    By GT staff reporters | 2020/12/6 20:34:20
  • European operators should have freedom to choose 5G suppliers: Huawei executive

    Chinese telecom company Huawei has every interest in helping the European Union (EU) be the world leader in 5G networks, and European operators should have the freedom to choose suppliers, Huawei vice president for Europe Abraham Liu said Thursday.

    By Agencies | 2020/12/4 17:38:44
  • US' plea deal for Huawei's Meng Wanzhou shows doubts about win: lawyer

    The US side has doubts about winning the Meng Wanzhou case by reportedly offering a plea deal, while whether to take a deal must be Meng's decision alone, a lawyer said on Friday.

    By GT staff reporters | 2020/12/4 14:22:05
  • US urged to stop abusing 'state power' in crackdown on Chinese firms

    China's leading chipmaker Semiconductor Manufacturing International Corporation (SMIC) said on Friday that the US' blacklisting would not result in any major impacts on its operations and denied US allegations over its relationship with the Chinese military.

    By Wang Cong | 2020/12/4 13:51:10
  • Chinese company wins bid for the first phase of the African CDC project

    A Chinese company wins bid for the first phase of the African Center for Disease Control and Prevention project (African CDC) of the African Union on Wednesday. A milestone in cooperation between China and African countries to strengthen their public health and epidemic prevention systems.

    By Global Times | 2020/12/4 1:14:42
  • Expectations for Biden lifting US tariffs dims after clear signal

    Market expectations for US President-elect Joe Biden to remove costly tariffs on hundreds of billions of dollars worth of Chinese products, which have been ruled illegal by the WTO and drawn court action by 3,500 US companies, have dimmed after Biden signaled that he might continue the trade war launched by incumbent Donald Trump.

    By Wang Cong | 2020/12/3 19:48:40
  • Huawei reaffirms commitment to Europe amid uncertainties in 5G policy

    Chinese tech giant Huawei reaffirmed its commitment to European market during the annual European Innovation Day held in Germany online on Thursday, vowing to strengthen cooperation with local firms, and boost the development of small and medium-sized enterprises (SMEs) through its technological strength.

    By Global Times | 2020/12/3 19:43:41
  • Business reshaped by global pandemic

    While the COVID-19 epidemic has hampered some industries in terms of people-to-people exchanges, some others benefited from new sources of demand, including disease prevention and control. That's led to a rise in merger and acquisition (M&A) deals in some sectors.

    By Reuters-Global Times | 2020/12/3 18:58:41
  • Airbnb to crash through pandemic

    Airbnb Inc said on Tuesday it is aiming for a valuation of up to $34.8 billion in its initial public offering (IPO), in what would cap a stunning recovery in its fortunes after the US home rental firm's business was heavily damaged by the COVID-19 pandemic earlier this year.

    By Reuters-Global Times | 2020/12/3 16:53:42
  • China put the middle section of the China-Russia east route natural gas project into use

    The middle section of the China-Russia east route natural gas project began operation on Thursday, providing a stable natural gas supply to the Beijing-Tianjin-Hebei region, according to a release by the China Oil & Gas Piping Network Corporation.

    By Global Times | 2020/12/3 13:08:40
  • Gay dating app's owner BlueCity achieves adjusted net profit for the first time in Q3

    One of the LGBTQ community's largest social media companies in Asia, BlueCity Holdings, which owns China's biggest dating app for gay men, earned adjusted net profit for the first time on the heels of recent global expansion.

    By Global Times | 2020/12/2 22:36:10
  • Cooperation between Qualcomm, Honor is possible: analyst

    With US chipset giant Qualcomm unveiling its most advanced mobile platform, there's increasing attention as to whether Honor, the recently divested smartphone sub-brand of Huawei, can secure supplies from Qualcomm.

    By GT staff reporters | 2020/12/2 19:21:56
  • Consular general visits Meng Wanzhou, urging her to keep good spirit

    Officials from China's Consulate General in Vancouver, Canada, paid a visit to Huawei CFO Meng Wanzhou at her residence and expressed empathy to her on Tuesday -- marking two years that she has been detained by Canadian authorities.

    By Global Times | 2020/12/2 18:03:41
  • Pfizer, BioNTech seek EU approval for COVID-19 vaccines

    Pharmaceutical firms Pfizer and BioNTech, as well as their competitor Moderna, have filed applications for approval of their COVID-19 vaccines, the European Medicines Agency (EMA) said on Tuesday.

    By Xinhua | 2020/12/2 14:21:34
  • China outnumbers US in unicorn companies with $737.7 billion valuation

    China is now home to the world's largest number of unicorns, with 217 companies with a collective value of $737.7 billion, outnumbering US' 192 unicorns valued at $805.1 billion, according to the latest global unicorns Top 500 list.

    By Global Times | 2020/12/2 11:51:33
  • Nike's new commercial sparks criticism of Japan for 'racial intolerance'

    Nike Japan recently launched a new commercial as part of the company's You Can't Stop Us campaign that aims to promote good sportsmanship. The new commercial, however, has been the target of harsh criticism from some Japanese who claim that it contains content that hints at racial discrimination in Japanese society.

    By Global Times | 2020/12/2 3:01:43
  • NetEase launches next-gen translation pen using 'world's first' super-sensing optical system

    Youdao, an online education subsidiary of China's internet giant NetEase, has launched the third version of its Translation Pen on Tuesday. The NetEase Youdao Dictionary Pen 3.0, is aimed at China's rapidly growing online education industry.

    By Global Times | 2020/12/1 23:42:06
  • US sanctions on Chinese firm 'long-arm jurisdiction'

    US sanctions on China National Electronics Import & Export Corp (CEIEC) for allegedly “supporting Venezuelan President Nicolas Maduro's efforts to undermine democracy” represent the suppression of Chinese companies under false pretenses, and the move is a typical instance of long-arm jurisdiction on China's mutually beneficial cooperation with Venezuela, experts said.

    By GT staff reporters | 2020/12/1 19:18:40
  • China-Laos joint venture oil refinery set to kick off production

    China and Laos have jointly developed an annual 3-million-ton oil refining project backed by $2 billion investment, filling a gap in the Laos petrochemical sector, according to media reports.

    By Global Times | 2020/12/1 16:38:40
  • Apple fined 10 mln euros in Italy over misleading practices

    Smartphone maker Apple was fined 10 million euros (12 million U.S. dollars) in Italy for misleading advertising and commercial practices, the Italian Competition Authority (AGCM) said on Monday.

    By Xinhua | 2020/12/1 11:30:24
  • SK Hynix Chongqing staff test negative for COVID-19, set to resume operation under strict prevention measures

    All staff at SK Hynix's Chongqing plant have tested negative for COVID-19 allowing operations to resume under strict prevention measures, the company said in a statement on Monday.

    By Global Times | 2020/12/1 10:16:29
  • Ant Group may not revive IPO until 2022: report

    With the regulatory authorities remaking rules governing China's fintech sector, Ant Group's suspended stock listing may not be revived until 2022, Bloomberg reported on Monday, citing unidentified regulatory officials familiar with the matter.

    By Global Times | 2020/12/1 0:05:35
  • Cruises to resume in South China Sea after long hiatus amid pandemic

    The cruise industry in China is coming back to life as routes to the Xisha Islands in the South China Sea will resume in December on a trial basis, following an 11-month suspension due to the COVID-19 epidemic, but the process should go cautiously and slowly, experts said.

    By Global Times | 2020/11/30 20:48:40
  • China fulfills customs protocols for phase one trade deal

    China has fulfilled its commitment under the phase one trade agreement with the US to carry out dozens of quarantine protocols that pave the way for expanding imports of US animal and plant products, a customs official said on Monday, in what experts call the latest signal of China's commitment to implement the deal beyond the upcoming US power transition.

    By Wang Cong | 2020/11/30 20:39:49
  • SE Asia attracts Chinese VC attention as India loses allure

    More Chinese venture capital (VC) firms and technology companies are shifting focus from the once-valuable Indian market, where uncertainty is rising, to emerging markets in Southeast Asia.

    By Zhang Hongpei and Chu Daye | 2020/11/30 19:28:40
  • Limited impact likely as COVID-19 case halts SK Hynix's Chongqing facility

    Southwest China's Chongqing Municipality, the world's No.1 production base for laptops, is expected to see limited damage to its memory chip supply chain after a COVID-19 case caused a plant owned by South Korea's semiconductor giant SK Hynix to temporarily halt production, with emergency testing of over 3,200 people. However, there might be some minor price spikes, analysts pointed out.

    By Zhang Hongpei and Chu Daye | 2020/11/29 21:45:39
  • China continues to lead global new-energy sector with 207 companies in top 500

    A total of 207 Chinese companies made the list of 2020 global top 500 new-energy enterprises this year, outnumbering the US' 69 companies in the second spot, and Japan's 54 companies in third, according to a report released by the China Energy Economy Research Institute at the 2020 Global Top 500 New-Energy Enterprises Summit on Friday.

    By Global Times | 2020/11/28 3:11:44
  • China will carry out cooperation with Venezuela even if the situation changes: FM

    China will carry out cooperation with Venezuela even if the situation changes, and such cooperation is based on mutual benefit, equal footing and commercial principles, and is in line with relevant laws, China's Foreign Ministry spokesperson Zhao Lijian said at a regular press briefing in Beijing on Friday.

    By Global Times | 2020/11/27 17:43:40
  • Huawei founder Ren Zhengfei encourages sub-brand Honor to exceed Huawei

    Founder and CEO of Huawei Ren Zhengfei said on Wednesday that its sub-brand Honor, which it recently sold is expected to resume production soon and encouraged Honor employees to surpass Huawei.

    By Global Times | 2020/11/26 22:29:56
  • US-China relations unlikely to change fundamentally: report

    One day after China formally acknowledged Joe Biden's win in the US presidential election, the American Chamber of Commerce in China (AmCham China) uploaded an earlier interview with former US Ambassador to China Max Baucus that shed light on what China-US relations will be like under President Biden.

    By Global Times | 2020/11/26 22:20:10
  • Regional fair to get boost from RCEP

    Representatives from countries attending the 17th China-ASEAN Expo (CAEXPO) see the just-signed Regional Comprehensive Economic Partnership (RCEP) deal as a fresh driver of trade and investment for the region, with a Chinese Foreign Ministry spokesperson hailing “golden decades” of trade ties between China and members of the Association of Southeast Asian Nations (ASEAN).

    By GT staff reporters | 2020/11/26 21:19:37
  • Tesla plans charger plant in Shanghai to facilitate growth: reports

    Tesla plans to produce charging piles for electric vehicles in Shanghai as it seeks to expand its market share in China, following the establishment of its Gigafactory, according to media reports. Experts said that the expansion will support the growth of its Chinese business and stimulate sales of its new-energy vehicles.

    By GT staff reporters | 2020/11/26 20:08:40
  • Credit Suisse anticipates impairment on stake in York Capital Management

    Credit Suisse expects to take a roughly $450 million impairment on alternative investment firm York Capital Management's retreat from its core hedge fund business, the Swiss bank said.

    By Reuters - Global Times | 2020/11/26 19:28:40
  • Merger wave sweeps through Italy's banks

    France's Credit Agricole offered to buy third-tier Italian lender Creval for 737 million euros ($875 million) on Monday, amid a wave of consolidation in Italy's banking sector.

    By Reuters - Global Times | 2020/11/26 19:18:40
  • Chinese firms in UK play important role in post-COVID recovery: City of London mayor

    International cooperation will be key to a global economic recovery from the COVID-19 pandemic, and the City of London remain committed to supporting the Chinese business community in the world's leading financial center, William Russell, lord mayor of the City of London, said Wednesday.

    By Xinhua | 2020/11/26 13:59:29
  • ByteDance's future in the US at a critical stage with new seven-day extension of TikTok sale order

    The US has reportedly granted ByteDance – the parent company of TikTok – a new seven-day extension of an order that directs the Chinese tech firm to divest its short video-sharing app.

    By Global Times | 2020/11/26 11:02:50
  • New UK ban on Huawei 'hits trust'

    The UK's latest move to act in line with the US in cracking down on Chinese companies provoked Beijing on Wednesday, with the Chinese Foreign Ministry making a rare comment that it will “negatively impact the mutual trust basis of China-UK cooperation.” Observers warned that the UK may face further decline in its trade with China, arguably the largest source of global economic momentum over the next 10-15 years that it could rely on for growth after Brexit.

    By GT staff reporters | 2020/11/25 22:53:40
  • Regulator approves Ant units' ABS issues

    In what is seen as a positive signal to the market, Chinese regulators have approved asset-backed securities (ABS) issues by two online lending subsidiaries of the Ant Group. The move follows the suspension of Ant Group's huge dual IPO in early November.

    By GT staff reporters | 2020/11/25 21:23:41
  • UK's move to exclude Huawei's 5G gear damages mutual trust: FM

    The UK's new bill to ban Huawei from participating in its 5G mobile network is a baseless crackdown on Chinese companies that follows in US footsteps, which will negatively impact the mutual trust basis of China-UK cooperation, Zhao Lijian, a spokesperson of Chinese Foreign Ministry, said on Wednesday.

    By Global Times | 2020/11/25 16:30:10
  • No policy barrier for Taiwan enterprises to list in the Chinese mainland: Taiwan Affairs Office of the State Council

    There is no policy barrier for Taiwan enterprises to list in the Chinese mainland and they will enjoy equal treatment as their mainland peers, Zhu Fenglian, a spokesperson for the Taiwan Affairs Office of the State Council, said at a press briefing on Wednesday.

    By Global Times | 2020/11/25 13:16:15
  • Regulator approves Ant Group subsidiaries' ABS financing program following suspended IPO

    Two Asset-Backed Securities (ABS) financing programs belonging to Ant Group's online lending subsidiaries, with a combined issuing scale of 20 billion yuan ($3.03 billion), have been approved, according to a release by the SSE Corporate Bond Information of the Shanghai Stock Exchange on Wednesday.

    By Global Times | 2020/11/25 12:08:39
  • China's major vaccine maker Sinopharm submits COVID-19 vaccine application to top watchdog on drugs

    Shi Shengyi, deputy general manager of Sinopharm Group Co., Ltd., said that Sinopharm has submitted a #COVID19 vaccine application to the State Food and Drug Administration.

    By Globaltimes.cn | 2020/11/25 11:30:37
  • More Canadian politicians join campaign to free Huawei's Meng Wanzhou, piling pressure on Trudeau

    An increasing number of Canadian politicians are joining a campaign to release Huawei CFO Meng Wanzhou, which cites “deteriorating relations with China, and the rise of Sinophobia in Canada,” adding pressure on Prime Minister Justin Trudeau to rethink his hardline stance against China.

    By Global Times | 2020/11/24 21:28:40
  • Huawei reportedly to upgrade its smartphones with HarmonyOS soon

    The Beta version of Huawei's HarmonyOS for smartphones will adopt a new "language" from December 16 onwards that will allow the phones to interact with other devices, a source briefed on the matter told the Global Times on Tuesday.

    By GT staff reporters | 2020/11/24 16:04:22
  • More Canadian politicians join campaign to free Huawei's Meng Wanzhou, piling pressure on Trudeau

    An increasing number of Canadian politicians are joining a campaign to release Huawei CFO Meng Wanzhou, which cites “deteriorating relations with China, and the rise of Sinophobia in Canada,” adding pressure on Prime Minister Justin Trudeau to rethink his hardline stance against China.

    By Global Times | 2020/11/24 12:09:31
  • AliExpress aims to increase market share in Poland

    AliExpress, an online retail service based in China, aims to increase its market share in Poland over the coming years, the head for Central and Eastern Europe of the global e-commerce giant told local media on Monday.

    By Xinhua | 2020/11/24 9:51:00
  • Alibaba filled with gratitude, pledges to positively respond to govt rules: chairman

    Alibaba's chairman expressed gratitude toward regulatory governance at a conference attended by internet giants and regulators on Monday, a stark contrast to Jack Ma Yun, founder of Alibaba, who blasted global financial regulatory authorities for stifling innovation back in October.

    By Global Times | 2020/11/23 13:34:45
  • Alibaba pledges to actively learn and respond to govt policies, rules to build a healthier platform economy

    Alibaba pledged to actively learn and respond to govt policies and rules on platform economy at World Internet Conference in Wuzhen

    By Globaltimes.cn | 2020/11/23 11:30:11
  • Chinese private satellite firm Galaxy Space attracts new funds

    Chinese satellite company Galaxy Space has completed a new round of fund-raising that could push its market value to almost 8 billion yuan ($1.22 billion), making it the first unicorn enterprise in China's commercial space and satellite internet industry.

    By Global Times | 2020/11/19 18:36:02
  • 40 more multinational firms set up regional HQs and R&D centers in Shanghai

    A certification ceremony for 40 multinational companies was held in Shanghai on Thursday, marking their move to set up regional headquarters and research centers in the city following Shanghai's firm determination to further open up for a high-quality economy.

    By Global Times | 2020/11/19 17:26:54
  • China to follow own rules on clearing Boeing 737 MAX to fly again

    China will follow its previously set rules after the US Federal Aviation Administration (FAA) cleared the return to service of Boeing's 737 MAX jet, the Civil Aviation Administration of China (CAAC) told the Global Times Wednesday night.

    By Tu Lei | 2020/11/19 17:23:40
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